AZ Hands Over Rights of Dermatitis Candidate to LEO for Over $1B

AstraZeneca is selling the rights for its atopic dermatitis candidate tralokinumab to LEO Pharma in an agreement potentially worth more than $ 1 billion.

LEO will pay $ 115 million up front for the treatment monoclonal antibody — which is currently in Phase 2 development — as well as up to $1 billion in commercially-related milestones.

Tralokinumab is also in Phase 3 development for the treatment of severe asthma, although AstraZeneca will retain the rights to tralokinumab for respiratory diseases and other indications outside of dermatology.